airBaltic posts record revenues in first-quarter of 2023

The Latvian national airline airBaltic has started the year 2023 with positive business indicators. airBaltic has achieved €104.3 million revenue, which is 74% more than in 2022, as well as the highest-ever recorded revenue in the first quarter of a year in the airline’s history. At the same time, the carried passenger number was 77% above the first quarter 2022.

Martin Gauss, President and CEO of airBaltic: “Current indications reflect that the first quarter of 2023 has exceeded our expectations and airBaltic is on the way back to persistent profitability. For us the target and ambition is clear – €700 million revenue in 2023 and a significant increase in carried passengers up to 4.4 million. In this way, the company will return to pre-crisis state and a positive result.”

“Looking ahead to 2023, we continue the successful course towards reaching IPO in 2024. Our core objectives remain unchanged – to ensure the best connectivity between the Baltics – one of the key European business centres of the future – and the world, as well as enhance the passenger experience and deliver a fundamental contribution to the economy,” Gauss added.

During the first three months of 2023, the total number of performed flights has increased by 28% that includes also 94 flights of a short-term wet-leased aircraft of other airlines.

airBaltic provides flights to more than 70 destinations from Riga, Tallinn, Vilnius and Tampere, offering connections to a wide range of destinations in the airline’s route network in Europe, Scandinavia, the CIS and the Middle East.